Global Recession, Austerity | featured news

Britain skirted a "triple dip" recession by growing faster than expected in the first three months of the year, providing some cover for a government under fire over its austerity drive.

Lithuanians have voted out their conservative government after one of the world's deepest recessions, early results suggest. Two leftist parties, Labour and the Social Democrats, are currently placed first and second.

Portugal will elect a new government on Sunday which will lead the country through a period of deep austerity and recession after it received a 78-billion-euro ($114 billion) bailout from the European Union and IMF.